Retail media has reshaped the advertising landscape faster than almost any channel in the last decade. First-party data, closed-loop measurement, and new opportunities for brands to connect with shoppers at the point of decision. But as the space matures, important questions are emerging about concentration, competition, and what the next chapter looks like for buyers, retailers, and platforms. In this episode of The ADOTAT Show, we sit down with Mark Donohue, GM of Retail Media at Placements.io, for one of the most thoughtful and honest conversations we have had on the show. Mark brings decades of experience from eBay, Gap, Western Union, and now Placements.io, and he shares a perspective that only someone who has helped build this industry can offer. We cover the evolution of retail media, the role of walled gardens, the realities of identity and data in 2026, and where the opportunities are for brands, retailers, and technology partners who want to build something durable. Mark is generous, candid, and deeply respected across the industry, and this conversation is a must-listen for anyone working in commerce media, CPG marketing, or ad tech strategy.